Insights

Industry News: Steel & Aluminum Tariffs


After President Donald Trump announced a proposed 25% tariff on steel and a 10% tariff on aluminum at a meeting with industry leaders at the beginning of the month, many questions and speculations have developed concerning how this will affect the auto and specialty vehicle industries.

The American Automotive Policy Council voiced concerns about the “unintended consequences” of these tariffs, saying they will lead to higher prices in the U.S. compared to competitors in other countries. They stated, “This would place the U.S. automotive industry, which supports more than 7 million American jobs, at a competitive disadvantage”. (Fortune)

The Recreation Vehicle Industry Association (RVIA)  is actively arming RV Caucus members prior to hearings with questions that will highlight the negative impact these tariffs and duties will have on the RV industry recommending that all RVIA members take the time to contact your members of Congress to discuss these threats. (RVIA)

Some trucking and fleet management experts think that tariffs could lead domestic steel producers to create more jobs. Others believe that it will create an increase in costs and negatively affect the supply chain for a number of industries.

As the announcement trigger reactions in the U.S., time will tell the full ramifications and effects that this decision has on our industries domestically, and around worldwide.

 

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